Beijing metro looks to biometrics to speed up payments at turnstiles

Beijing subways to get bio-ID system — China Daily — “Two bio-recognition technologies — facial recognition and palm touch — are being considered, said Zhang Huabing, head of enterprise development for Beijing Subway… Facial recognition technology can track passenger movements with cameras connected to online networks that recognize people when they enter a station, potentially allowing them to bypass traditional ticketing.”


Ant Financial to pivot away from Alipay?

Exclusive: Ant Financial shifts focus from finance to tech services: sources — Reuters — “Ant Financial Services Group, the dominant Chinese fintech company, is shifting its main focus to technology services and away from payments and consumer finance as Beijing’s crackdown on financial risk deepens, four sources with knowledge of the matter said… They said the move was propelled, in part, by growing regulatory pressure on Ant’s core financial businesses, including payments, micro lending, credit rating and wealth management.”


Ant Financial signs technology sharing deals with Chinese banks

Ant Financial to support Shanghai Pudong Development Bank’s digital transformation with financial grade technologies — Ant Financial — “The partnership will allow Ant Financial and SPD Bank to strengthen collaboration on a broad range of inclusive finance initiatives, from improving user experience while using online and offline payment services, to providing secure, convenient and efficient financial services for small and micro businesses… The agreement is the third of its kind announced this month between Ant Financial and established banks, following partnerships with Huaxia Bank and China Everbright Bank.”



Ant Financial raises $10bn at a $150bn valuation

China’s Ant Financial raises $10 billion at $150 billion valuation: sources — Reuters — “Ant Financial Services Group, operator of China’s biggest online payment platform by market share, Alipay, has closed its latest funding round having raised US$10bn from a clutch of global and local investors, five people with direct knowledge of the matter told Reuters. Ant’s first fundraising targeting global money values the firm at US$150bn, the people said, compared with about US$60bn after its previous fundraising in April 2016.”


Chinese banks report growth in mobile payments volumes

Chinese banks post robust growth in mobile payments — Xinhua — “Chinese banks posted robust growth in mobile payments in the first quarter of this year, according to the People’s Bank of China (PBOC). Banking institutions handled 70.8 trillion yuan (US$11.1tn) in mobile payments in the period, up 16.8% year on year, the central bank data showed. Around 10.7bn payments were made through the banks’ mobile services in the first quarter, an increase of 17.8% year on year.”


Beijing Metro begins accepting QR code mobile tickets at turnstiles

QR code smartphone tickets available for subway — China.org.cn — “Travellers in Beijing can now use a QR code on their smartphone as a ticket to ride the subway… Passengers can download an app called RuubyPay that generates a QR code ticket that can be read using a scanner built into the subway turnstiles. The QR code scanning app can be used on any smartphone running iOS or Android that is connected to the internet, according to Sina.com. Tickets can be paid for using a linked bank, Alipay, or JD Finance account.”



Chinese province uses Alipay QR codes for citizen ID

China to launch e-ID cards for citizens via phone QR codes — Asia Times — “China requires its citizens to produce ID cards for verification when checking in at a hotel, boarding a train or plane or accessing government services. Now with the e-ID card, a user can just tap an Alipay app to show their QR code for similar verification, while leaving their wallet or physical card at home.”


Central bank fines Alipay for breaching data protection regulations

Alipay is stepping up data protection after PBOC fine — Yicai Global — “Alipay, the fintech platform run by Ant Financial Services Group, is looking to improve its data collection processes after China’s central bank fined it for breaching data protection regulations… Alipay published misleading video campaigns and its collection of personal financial information failed to meet minimum security requirements, the regulator said, adding that the firm also used data inappropriately.”


Fake QR code payment scammers arrested in China

Chinese market targeted by scammers who set up fake QR codes to divert payments — South China Morning Post — “A food market in China has been targeted by scammers who used fake QR codes to divert mobile payments into their own account… Three men have been arrested on suspicion of printing out small pieces of paper with the QR codes on them and then sticking them over 60 codes used by traders in Nanjing… The three unemployed men — who were only identified by their surnames Zhao, Zhu and Zhang — reportedly told police they had been inspired by a friend who had made money this way.”


China goes live with QR payments spending cap

China caps store mobile payments at $80 — Nikkei Asian Review — “The People’s Bank of China, the country’s central bank, implemented the caps on Sunday for different types of QR code payments, based on relative risk. For payments made by scanning a printed QR code displayed by the seller, the daily limit is set at 500 yuan (about US$80)… Such popular services as Alibaba Group Holding’s Alipay and Tencent Holdings’ WeChat Pay are affected.”


Apple rolls out support for transit cards in China

Using Apple Pay Express Card features in Beijing and Shanghai — Apple (translation) — “To use the Apple Pay Express Card feature in Beijing or Shanghai, you first need to set up an Apple Pay Transportation Card on your iPhone 6, iPhone 6 Plus or later, or Apple Watch Series 1, Apple Watch Series 2 or later… In Beijing, you can use transportation cards to pay for subways and buses. In Shanghai, you can use transportation cards to pay for subways, buses, ferries and Maglev trains.”


Vehicle vending machine lets drivers book, pay and drive away a test car from their mobile phone

Ford, Alibaba roll out test-drive services via ‘auto vending machine’ — China Automotive News — “Users can book a test drive via the Alibaba’s Taobao mobile app or the Tmall platform. Entering a key word of ‘super test drive’, users can follow the instructions from the interface to select the vehicles they want and the time to have the test drive. To schedule a test drive, users should submit their basic information and upload their selfies on the platform. Besides, they need to pay some test drive fees and the money for vehicle purchasing intention. After all these done, consumers can pick up their test vehicle via a facial recognition at the ‘super test drive center’ in Guangzhou to enjoy a three-day ride.”


Beijing Metro to replace NFC ticket gates with QR codes?

Mobile phone payment to smooth out Beijing subway rides — The Beijinger — “Beginning in May, commuters will be able to pay for their fares on the Beijing Metro by using electronic payment systems like Alipay. All entrance gates to subway stations in the city will be equipped with QR code sensors… The new feature is not related to last year’s feature that allowed Beijing commuters to enter city subways using near field communication (NFC) technology… The Beijing Metro intends to phase out NFC technology at its entrance gates at an unspecified future date.”


China opens up its payments market to foreign companies

China allows foreigners to enter $27tn payments market — Bloomberg — “Foreign players can start applying for payment licenses and will be treated the same as local firms, the People’s Bank of China said in a statement on Wednesday. Applicants must set up local units, establish payment infrastructure — including disaster recovery systems — and store client information domestically, the central bank said.”






See NFC World's full list of trials, pilots, tests and live services around the world...

Page 1 of 1812345...Last »